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Central Bank of Nigeria

New Measures to Enhance Local Currency Liquidity for Settlement of Diaspora Remittances

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Author
Central Bank of Nigeria
Year
2024
Pages
2 pages

This circular introduces measures allowing eligible International Money Transfer Operators to access CBN-provided Naira liquidity directly or through Authorized Dealer Banks for foreign exchange transactions supporting diaspora remittance settlement. It establishes same-day settlement for qualifying transactions, NAFEM-based pricing, mandatory daily regulatory returns containing source-of-funds information,…

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